Iron Mountain acquisition of Recall Holdings to go ahead
The Australian Competition and Consumer Commission (ACCC) has allowed Iron Mountain to acquire the Australian company Recall Holdings. This is subject to Iron Mountain selling most of its Australian business, an undertaking that is court-enforceable. This undertaking alleviates the ACCC’s concerns that the acquisition would be anti-competitive and that it would allow consumers to be potentially exposed to higher prices and/or reduced service levels.
Both companies provide physical document storage services in Australia and Recall is Iron Mountain’s closest competitor. The acquisition is also being considered by competition authorities in the United States of America, the United Kingdom, and Canada.
Frontier (Australia) advised the lawyers for Iron Mountain in regard to the Australian acquisition, and regularly advises law firms in the region on competition matters.
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